A. From each qualifying and funded capital improvement project, the city shall set aside an amount equal to one and one-fourth percent (1.25%) of such capital improvement project's construction budget for the purchase and installation of public art regardless whether the capital improvement project is completed.
B. In computing the amount to set aside in the public art account, the project's budgeted costs to the city shall include all amounts paid by the city to third parties in connection with the projects, including, but not limited to, amounts paid on contracts relating to the project and consultant fees incurred in connection with the project, but shall not include any portion of the project's cost which is not funded by the city unless it meets the definition of a capital improvement project. The budget for the public art component shall be calculated for the budgeted eligible capital improvement project costs at the time of project approval by the city council. The city council may modify the public art component budget if during planning or implementation of the project, the eligible capital project costs significantly vary from the budgeted costs at time of approval.
C. Of the one and one-fourth percent (1.25%) from each qualifying capital improvement project allocated to the public art account:
1. No less than one percent (1%) of the eligible capital improvement project costs shall be allocated toward purchase, creation or installation of public art pieces.
2. No more than one-fourth percent (0.25%) shall be used for administrative costs, including, but not limited to, costs of selection, project management, maintenance, repair and conservation.
D. As capital projects may require more than one year to implement, all unexpended project funds will be eligible to be rebudgeted each year, until project completion.
E. The Hailey arts and historic preservation commission may recommend and the city council may decide that monies in the public art account be pooled to do a larger project and/or expended on a project at an alternate site to be determined by the city.
F. Nothing contained herein shall preclude funding city public art by matching monies, donations, grants or other means. (Ord. 999 § 2, 2008)